Viva Energy has posted record half-year earnings as the global energy crunch boosted the company’s revenue from refining eightfold, capping a remarkable turnaround for a business that appeared on the brink just over a year ago.

Viva said earnings before interest, tax, depreciation and amortisation (EBITDA) for the six months ending June 30 was a record $611.7 million, a rise of 139 per cent on the same period a year earlier. Net profit was $127 million, up 27 per cent from a year ago when the retail business weighed on earnings.